HONG KONG, May 8, 2015 /PRNewswire/ -- China Cord Blood
Corporation (NYSE: CO) ("CCBC" or the "Company"), China's leading provider of cord blood
collection, laboratory testing, hematopoietic stem cell processing
and stem cell storage services, today announced that the Company
has been informed that Golden Meditech Holdings Limited ("Golden
Meditech"), a Hong Kong listed
company and a substantial shareholder of the Company, has entered
into an agreement (the "CGL Agreement") to purchase the Company's
outstanding 7% senior convertible note due 2017 with an aggregate
principal amount of $25 million (the
"CGL Note") held by Cordlife Group Limited ("Cordlife") and the
ordinary shares of the Company owned by Cordlife (the "CGL Sale
Shares"). Golden Meditech has also entered into an agreement (the
"Magnum Agreement") to purchase the Company's outstanding 7% senior
convertible note due 2017 with an aggregate principal amount of
$25 million (the "Magnum Note") held
by Magnum Opus International Holdings Limited ("Magnum").
The aggregate purchase price for the CGL Sale Shares, the CGL
Note and the Magnum Note is currently estimated to be approximately
$169.8 million plus interest accrued
on the notes from October 3, 2014 to
the date when the purchase is completed. The purchase price is
subject to (i) applicable distributions on the ordinary shares made
by the Company, if any, and (ii) any possible changes to the
currently offered per ordinary share purchase price at $6.40 as reflected in Golden Meditech's
previously announced proposed "going-private" transaction, in each
case in accordance with the terms of the CGL Agreement and the
Magnum Agreement. The completion of the purchase of the CGL Note
and the CGL Sale Shares is subject to certain closing conditions,
including Golden Meditech shareholder approval and Cordlife
shareholder approval. The completion of the purchase of the Magnum
Note is also subject to closing conditions, including Golden
Meditech shareholder approval.
About China Cord Blood Corporation
China Cord Blood Corporation is the first and largest umbilical
cord blood banking operator in China in terms of geographical coverage and
the only cord blood banking operator with multiple licenses. Under
current PRC government regulations, only one licensed cord blood
banking operator is permitted to operate in each licensed region
and only seven licenses have been authorized as of today. China
Cord Blood Corporation provides cord blood collection, laboratory
testing, hematopoietic stem cell processing and stem cell storage
services. For more information, please visit our website at
http://www.chinacordbloodcorp.com.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, and
Section 21E of the Securities Exchange Act of 1934. These
statements relate to future events or the Company's future
financial performance. The Company has attempted to identify
forward-looking statements by terminology including "anticipates",
"believes", "expects", "can", "continue", "could", "estimates",
"intends", "may", "plans", "potential", "predict", "should" or
"will" or the negative of these terms or other comparable
terminology. These statements are only predictions, uncertainties
and other factors may cause the Company's actual results, levels of
activity, performance or achievements to be materially different
from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking
statements. The information in this press release is not intended
to project future performance of the Company. Although the Company
believes that the expectations reflected in the forward-looking
statements are reasonable, the Company does not guarantee future
results, levels of activity, performance or achievements. The
Company expectations are as of the date this press release is
issued, and the Company does not intend to update any of the
forward-looking statements after the date this press release is
issued to conform these statements to actual results, unless
required by law.
For more information, please contact:
China Cord Blood Corporation
Investor Relations Department
Tel: (+852) 3605-8180
Email: ir@chinacordbloodcorp.com
ICR, Inc.
William Zima
Tel: (+86) 10-6583-7511
U.S. Tel: (646) 405-5185
Email: William.zima@icrinc.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/china-cord-blood-corporation-receives-notice-of-transactions-regarding-its-7-senior-convertible-notes-due-2017-held-by-cordlife-and-magnum-and-its-ordinary-shares-held-by-cordlife-300080137.html
SOURCE China Cord Blood Corporation